Medical Practice Accounting.
Clinics, diagnostic centres, nursing homes and hospitals combine patient billing, insurance receivables, consultant payouts and pharmacy stock in one set of books. We keep those streams separate and reconciled, apply TDS correctly to visiting consultants, and keep the GST position clear between exempt healthcare and taxable supplies, so year-end tax filings are straightforward.
Setup typically takes one to two weeks once billing data is shared. Monthly books then close within two to three weeks of month-end, with insurance reconciliation driven by when TPAs send settlement details.
A partner — a chartered accountant or company secretary — from the first call to sign-off.
Based on your situation, and fixed in writing before any work starts.
Is this for you?
- Doctors running their own clinic or day-care centre
- Multi-speciality clinics, nursing homes and small hospitals with visiting consultants
- Diagnostic laboratories and imaging centres
- Practices with an in-house pharmacy or cashless insurance tie-ups
What you receive at the end.
- 01Monthly books with department-wise income
- 02Insurance and TPA receivables ageing
- 03Consultant payout statements and TDS returns
- 04GST working, where registration applies
- 05Year-end financial statements ready for tax audit or return filing
Medical Practice Accounting, step by step.
Setup typically takes one to two weeks once billing data is shared. Monthly books then close within two to three weeks of month-end, with insurance reconciliation driven by when TPAs send settlement details.
- 1
Setup and mapping
We map your billing software, departments and payment modes to a chart of accounts that separates consultations, procedures, diagnostics, pharmacy and other income.
- 2
Receipts and insurance
We reconcile patient receipts with bank and card settlements, and track insurance and TPA claims through to settlement, recording deductions and disallowances.
- 3
Consultant payouts and TDS
We compute payouts to visiting doctors, deduct TDS under section 393(1) of the Income-tax Act, 2025 (formerly section 194J), and prepare the quarterly TDS returns.
- 4
GST classification
We separate healthcare services, which are generally exempt, from taxable supplies such as outpatient pharmacy sales, and check whether GST registration is needed.
- 5
Monthly close and tax
We close the books monthly, maintain the equipment asset register, and prepare for tax audit under section 63 (formerly 44AB) or presumptive taxation under section 58 (formerly 44ADA) where it applies.
What we need from you.
Don't have everything yet? We send a short checklist after the first call and work with what you have.
- Billing software reports and daily collection summaries
- Bank, card and UPI statements
- Insurance and TPA settlement advices
- Agreements with visiting consultants and their PAN details
- Pharmacy purchase bills and stock records
- Equipment invoices and loan statements
- Clinic, pharmacy and bio-medical waste registrations
The fee depends on your situation. After a short call, the partner who will do the work tells you what's involved and gives you a fixed fee in writing — before any work begins.
- Government fees and statutory charges are billed at actuals.
- When you pay — upfront, in stages or on completion — is agreed in writing with the fee.
Questions about Medical Practice Accounting.
Ready to discuss Medical Practice Accounting?
30-minute confidential call — no proposal, no commitment. A partner will write back within one business day.